VIENNA--(EON: Enhanced Online News)--C.A.T. oil AG (O2C, ISIN: AT0000A00Y78),one of the
leading providers of oil and gas field services in Russia and
Kazakhstan, signed a framework agreement with Gazprom Neft on drilling
and hydraulic fracturing services on 17 June 2014. The agreement
guarantees full utilization of four new drilling rigs and one new
fracturing fleet until end of 2016 and foresees conclusion of respective
service agreements between the operating subsidiaries of Gazprom Neft
and C.A.T. oil.

The new drilling and fracturing capacities will be successively deployed
in the field from September to December 2014 and are part of C.A.T.
oil’s growth strategy. In November 2013, C.A.T. oil announced its
2014-16 investment program of EUR 390 million aiming at expansion of its
operating capacities by around 33% for fracturing, 55% for sidetracking
and 170% for drilling by the end of 2016 compared to the end of 2013.
For 2014, C.A.T. oil has ordered six drilling rigs, four sidetracking
rigs and one fracturing fleet. Execution of the program and
manufacturing of the ordered new capacities are fully on schedule.

Manfred Kastner, CEO of C.A.T. oil, commented: “We appreciate the
framework agreement signed with Gazprom Neft, one of our
longest-standing customers. The agreement provides planning security and
improves our mid-term revenue visibility. At the same time it
demonstrates the industry’s accelerating demand for technologically
advanced services and the interest to secure capacities over a longer
period of time. Industry trends remain encouraging and we continue to
experience a supportive operating environment laying the basis for a
successful 2014.”